This is the final segment in a three part series discussing the recent past and future of oil prices and the reasons why prices are where they are. Currently there is a glut in oil inventories worldwide. There are a number of factors contributing to this continuing situation as I have detailed in there previous two segments of this series but in the end it can all be summed up into one simple statement: All parties whether they are individuals, corporations, or nations tend to do what is in their own best interest.
Colleen Green
Posts by Colleen Green
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We will never sell or share your information without your consent. See our privacy policy.This is the second part of a three part series discussing the recent past and future of oil prices and the reasons why prices are where they are. Many intelligent people who make their living analyzing oil markets have pointed to OPEC and its ability to enact large scale production cuts as central controlling oil prices. While this has yet to occur as the production cuts enter their fifth month true believers continue to chant the mantra “just give it time”.
This is the first of a three part series discussing the recent past and future of oil prices and the reasons why prices are where they are. April was an interesting time for the crude oil market. From late March until the latter half of April oil prices were above $50 a barrel and oil bulls became excited by the idea that a supply cut led by OPEC and Saudi Arabia would soon tighten balances and lead to increased prices. This has not come to pass and here is why I am doubtful that change in the near future.
